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Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Thursday.IperionX (ASX:IPX): -9%, AU$2.84Elisight (ASX:ELS): -5%, AU$4.83FireFly Metals (ASX:FFM): -7%, AU$1.76Westgold Resources (ASX:WGX): -6%, AU$5.84GrainCorp (ASX:GNC): -5%, AU$6.57Austal (ASX:ASB): -5%, AU$4.42Elders (ASX:ELD): -4%, AU$6.25Zimplats (ASX:ZIM): -5%, AU$17.00Vulcan Energy Resources (ASX:VUL): -5%, AU$2.48ELEVRA Lithium (ASX:ELV): -6%, AU$7.56

ASX 200ASX:ASBASX:ELDASX:ELSASX:ELVASX:FFMASX:GNCASX:IPXASX:VULASX:WGXASX:ZIM
Asia

FireFly Metals Completes AU$180 Million Equity Raising

FireFly Metals (ASX:FFM) completed its AU$180 million equity raising, comprising a AU$150 million institutional placement at AU$1.78 per share and an around AU$30 million bought deal on the Toronto Stock Exchange (TSX) at CA$1.76 per share, according to a late Thursday statement by the company.The company issued 16.8 million ordinary shares through the TSX offering.The company will also launch a non-underwritten share purchase plan on Friday for eligible shareholders in Australia and New Zealand, offering up to AU$30,000 worth of shares at AU$1.78 each and aiming to raise an additional AU$10 million, with applications expected to close on Sept. 23.The funds will be used to advance the Green Bay Copper-Gold Project, fund exploration and technical studies, strengthen the balance sheet ahead of project financing, and cover corporate, transaction and working capital costs.

ASX:FFM
Asia

FireFly Metals Raises AU$180 Million Via ASX Placement, TSX Bought Deal for Canada Copper-Gold Project

FireFly Metals (ASX:FFM) launched an equity raising of about AU$180 million before costs through the issue of up to about 101.1 million fully paid ordinary shares at AU$1.78 per share, according to a Tuesday Australian bourse filing.The company said it has entered into an agreement with Canaccord Genuity Australia to raise about AU$150 million through an ASX placement of about 84.3 million new shares at AU$1.78 per share.FireFly also entered into a bought deal private placement on the Toronto Stock Exchange with BMO Nesbitt Burns, pursuant to which BMO on behalf of a syndicate of underwriters has agreed to purchase about 16.8 million new shares at CA$1.76 per share for gross proceeds of about CA$29.6 million, the filing added.Net proceeds will be primarily used to advance project implementation for the Green Bay Copper-Gold Project in Canada, it added.

ASX:FFM
Asia

FireFly Metals Completes Canada Copper-Gold Project Preliminary Economic Assessment

FireFly Metals (ASX:FFM) completed the preliminary economic assessment for the restart of production at the Green Bay Ming Mine copper-gold project in Canada, according to a Tuesday Australian bourse filing.The assessment considered two production scenarios, a 1.8 million tonnes-per-annum (tpa) base case and a larger 4.6 million tpa alternative. The base case scenario resulted in an after-tax net present value of around AU$2.2 billion and an internal rate of return of 42% over an initial around 32-year mine life. This showed annual projected average production of 50,000 tonnes of copper-equivalent metal over a 14-year period at steady state after ramp-up to peak at 60,000 tonnes of copper-equivalent metal per annum.The alternative scenario resulted in an after-tax net present value of around AU$3 billion and internal rate of return of 40% over an initial around 22-year mine life, with annual projected average production of around 90,000 tonnes copper-equivalent metal over 11 years at steady state.The project is now underpinned by a revised independent mineral resource estimate of 60.2 million tonnes at 2.4% grade of copper-equivalent in the measured and indicated resource categories and a further 23.5 million tonnes at 2.5% grade of copper-equivalent of inferred mineral resources.

ASX:FFM
Research

Moelis & Company Downgrades FireFly Metals to Hold from Buy; Price Target is AU$1.90

FireFly Metals (ASX:FFM) has an average rating of overweight and mean price target of AU$2.65, according to analysts polled by FactSet.

ASX:FFM
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Tuesday.FireFly Metals (ASX:FFM): -5%, AU$1.77Tabcorp Holdings (ASX:TAH): -3%, AU$0.87Predictive Discovery (ASX:PDI): -2%, AU$0.65The Lottery Corporation (ASX:TLC): -2%, AU$5.49Tamboran Resources CDI (ASX:TBN): -2%, AU$0.23Ampol (ASX:ALD): -2%, AU$39.13Stanmore Resources (ASX:SMR): -2%, AU$2.27Webjet Group (ASX:WEB): -2%, AU$3.46Viva Energy Group (ASX:VEA): -1%, AU$2.75Flight Centre Travel Group (ASX:FLT): -1%, AU$13.16

ASX 200ASX:ALDASX:FFMASX:FLTASX:PDIASX:SMRASX:TAHASX:TBNASX:TLCASX:VEAASX:WEB
Asia

FireFly Metals Says Canada Copper-Gold Project Drilling Shows Strong Mineralization Continuity, High Grades

FireFly Metals (ASX:FFM) said infill drilling at the Green Bay copper-gold project in Newfoundland and Labrador, Canada, showed the strong continuity and high-grade nature of mineralization, according to a Monday Australian bourse filing.Drilling at the upper VMS zones resulted in intercepts of 11.5 meters at 13.2% copper-equivalent, including 11.1% grade of copper and 2.1 grams-per-tonne grade of gold, as well as 13.5 meters at 11.1% copper-equivalent, including 8.4% copper and 2.6 grams-per-tonne grade of gold.Meanwhile, drilling at the high-grade Core zone resulted in an intercept of 65.3 meters at 4.3% copper-equivalent, including 3.6% copper and 0.7 grams-per-tonne grade of gold.Six drill rigs are currently operating at the Ming underground copper-gold mine.

ASX:FFM
Asia

FireFly Metals' Cash, Liquid Investments Position Drops in June Quarter

FireFly Metals (ASX:FFM) held roughly AU$196.4 million of cash and liquid investments as of June 30, according to a Tuesday filing with the Australian bourse.The company ended the March quarter with about AU$219.9 million in cash and liquid investments, an earlier filing showed.During the June quarter, the company incurred net cash outflows from operating activities of AU$1.3 million and from investing activities of AU$20.4 million, it said.

ASX:FFM
Asia

FireFly Metals Says BlackRock Group Lifts Stake; Shares Fall 7%

FireFly Metals (ASX:FFM) received notice that BlackRock Group and its subsidiaries increased their holdings in the company to 15.53% from 14.5%, according to a Friday Australian bourse filing.BlackRock Group now owns 119.4 million shares in the company, the filing said.The company's shares fell 7% in recent Friday trade.

ASX:FFM
Asia

FireFly Metals Confirms Continuity in High-Grade Mineralization at Canada Project

FireFly Metals (ASX:FFM) confirmed continuity in high-grade mineralization at its Green Bay project in Canada with the receipt of further results from infill drilling of the Core zone, according to a Thursday Australian bourse filing.The results were up to 42 meters at 6.1% copper equivalent, comprising 4.7% copper and 1.4 grams per tonne gold, including a high-grade volcanogenic massive sulphide (VMS) zone of 9.8 meters at 16.5% copper equivalent, comprising 12.7% copper and 4 g/t gold.The company said that, given the strength of the results, it will incorporate them into an updated resource model that underpins the economic studies, with those studies now expected to be completed in July-August.The results, generated primarily from infill drilling, will be reflected in the measured and indicated resource category, which is central to the economic studies, while regional exploration continues with drilling of geophysical targets, and maiden drilling has commenced at the Tilt Cove project, it added.

ASX:FFM
Asia

Elevra Lithium, Electro Optic Systems and Others Join S&P/ASX 200 Index

Elevra Lithium (ASX:ELV), Electro Optic Systems (ASX:EOS), FireFly Metals (ASX:FFM), Kingsgate Consolidated (ASX:KCN), and Minerals 260 (ASX:MI6) joined the S&P/ASX 200 Index before trading began on Monday, S&P Dow Jones Indices reported Friday.Meanwhile, Guzman Y Gomez (ASX:GYG), IDP Education (ASX:IEL), SiteMinder (ASX:SDR), Temple & Webster (ASX:TPW) and WEB Travel (ASX:WEB) were removed from the index as part of the rebalancing.

ASX:ELVASX:EOSASX:FFMASX:GYGASX:IELASX:KCNASX:MI6ASX:SDRASX:TPWASX:WEB
Asia

FireFly Metals Shares Lower After Completing Sale of Ontario Gold Assets to Bellavista Resources

FireFly Metals (ASX:FFM) shares were down more than 5% in recent Thursday trading after the company said late Wednesday it completed the sale of its Ontario gold assets to Bellavista Resources (ASX:BVR).The assets included a 70% stake in the Pickle Crow gold project and full ownership of the Sioux Lookout project.The deal's scrip consideration is 60 million Bellavista shares and contingent consideration of 50 million Bellavista performance rights. FireFly shareholders are expected to receive one Bellavista share for every 12.8 FireFly shares held through an in-specie distribution with a record date of May 4.

ASX:BVRASX:FFM
Asia

FireFly Metals Secures Approvals to Divest Canada Project to Bellavista Resources

FireFly Metals (ASX:FFM) and Bellavista Resources (ASX:BVR) obtained all necessary shareholder approvals and satisfied or waived remaining conditions for the sale of FireFly's Ontario gold portfolio, including its 70% stake in the Pickle Crow Project and full ownership of the Sioux Lookout Project, according to a Friday filing with the Australian bourse.Completion of the transaction is expected on April 29, per the filing.Firefly will receive 60 million Bellavista shares upfront, along with 50 million performance rights, with an in-specie distribution to shareholders scheduled for May 11, equating to around one Bellavista share for every 12.8 Firefly shares held, the filing said.The transaction includes a waiver of the Australian Taxation Office class ruling condition, with tax treatment still pending final confirmation, the filing added.FireFly Metals and Bellavista Resources' shares each shed about 1% in recent Friday trade.

ASX:BVRASX:FFM

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